A development team at Penn Mutual planning their work for the day.

Our passion is serving our advisers and their clients. With innovative solutions for advisers in service to their clients, and an unwavering commitment to mutuality, the story of our strength continues. Learn more about who we are, how we got here, and where we&rsquo;re headed next.

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A leader in life

A female financial advisor sitting with a young couple, reviewing importing documents.

High ratings from&nbsp;<a class="link" href="https://www.pennmutual.com/about-us/financial-strength/ratings" alt=""><abbr title="Alfred M. Moody, founder&#39;s initials">A.M. Best</abbr>, Moody&#39;s Investor Services, Standard &amp; Poor&#39;s and Kroll Bond Rating Agency</a>. A thoughtful and rigorous investment decision-making process and prudent investment strategy.

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Financial strength and stability

College rugby players engaged in their sport, while a crowd cheers them on in the distance.

Our connection to rugby runs deep. We are proud to celebrate the shared values of integrity, respect, service to others, and the power of teamwork with the rugby community.

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Sponsors of collegiate rugby

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Eileen McDonnell, chairman and CEO of Penn Mutual, is honored as one of the "2018 Most Admired CEOs Award" from the Philadelphia Business Journal.


2018 Most Admired CEOs Awards

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Jessica Choi, assistant vice president of talent acquisition and diversity at Penn Mutual, is included in John Hilton’s InsuranceNewsNet article highlighting a LIMRA panel she was on. The panel discussion focused on the life insurance industry's shifting culture. Choi recalls what attracted her to Penn Mutual, "I met our leadership team and was completely blow away."


Creativity Opens The Diversity Door In Life Insurance

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Eileen McDonnell, chairman and CEO of Penn Mutual, is featured in Lisa Dukart's Main Line Today article highlighting powerful female executives in the Philadelphia region. "As we built our confidence, as we recapped our business plan, a big theme that we had was deciding to lead. I think we've demonstrated really well here at Penn Mutual that it's not just lip service having women in key leadership positions," she says.


2018 Women on the Move

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David LaBricciosa, managing partner of Penn Mutual's AspireWealth Planners, contributes a byline to Life & Health Advisor discussing the importance of retaining advisers. "I find it difficult to believe our noble profession can accept that kind of retention rate when we have such a passion for what we do and who we serve. Part of the problem lies with how advisers are recruited. We need to start a new conversation about who should be introduced to this career and how to develop successful advisers who serve clients for generations to come," he says.


Going Against the Grain to Retain Financial Advisers

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Emily Zulz of ThinkAdvisor includes Penn Mutual in an article highlighting recent industry news. Hornor, Townsend & Kent, Inc., a wholly-owned subsidiary of Penn Mutual, recently released a digital investment solution that is powered by Betterment for Advisors. The solution, SmartJourney, will help support advisers by streamlining their back-office operations, automating portfolio management and increasing efficiency within their practice.


Franklin Templeton Launches 3 Passive ETFs: Portfolio Products

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MarketWatch features a Penn Mutual press release announcing its recognition as an Impact Award winner from the Novarica Insurance Technology Research Council (Novarica). Novarica awarded Penn Mutual the Impact Award for creating a tool that modernizes the life insurance process by condensing the life insurance policy application process and decision-making time from an industry average of 30 days to as little as 24 hours.


The Penn Mutual Life Insurance Company Receives National Award for New Digital Client Experience

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InsuranceNewsNet features a Penn Mutual press release announcing Penn Mutual's strategic partnership with M Financial. This new partnership enhances Penn Mutual's access to the affluent market for life insurance and will bolster M Financial's existing financial services portfolio.


Penn Mutual Life Insurance Company And M Financial Group Announce New Strategic Relationship

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Jeff Spencer, adviser at Penn Mutual's Concord Wealth Management, is included in Ben Mattlin's Financial Advisor article discussing insurance strategies that address millennial needs. "With millennials, the best way is to talk about how you can use it before retirement, as well as the power of having a non-market-correlated asset in retirement. Weâre seeing a large number of millennials looking to buy income properties, and having a liquid account such as cash-value life insurance is great because it provides guaranteed tax-deferred growth and tax-free access to capital for down payments or collateral," he says.


Insurance Takes On Millennials

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Eileen McDonnell, chairman and CEO of Penn Mutual, is featured on Bloomberg Radio's "Bloomberg Markets" discussing the importance of inclusive, gender diverse work environments. "Women are better prepared today than they ever were to take over the head of the house. It starts with a willingness of individual boards and CEOs that are willing to welcome women into their ranks of the board room and the C-suite," she says.


Promoting Gender Diversity in Business

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Dave O'Malley, president and COO of Penn Mutual, is included in Kenneth Hilario's Philadelphia Business Journal article discussing strategic sports sponsorships. "Activation has to be authentic. What do you want to get accomplished? Work back from there with a multiyear plan and say, 'How do I want to get that engagement, build that in an authentic way, and what tactics do I want to take?' Sports allows you to tell incredible stories and make them come to life in a real way for your brand," he says.


Why authentic activation is today's strategy in pro sports sponsorships

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Nancy Dinh, managing partner at Penn Mutual's Armor Wealth Management, was featured in Emily Zulz's ThinkAdvisor article discussing how her past has influenced her financial service career drive. "My advice to advisors is that the only person stopping you from being successful is you. You have the passion to help people in terms of protection, their future, their family -- you have to have that drive and that passion to make it through," she says.


What Living and Working in a Motel Taught This Advisor

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Life & Health Advisor features a Penn Mutual press release announcing the addition of Carol Johnson and Bill Goings to the company's Board of Trustees. Both individuals have an extensive growth record and will join an already impressive group of leaders serving on Penn Mutual's board.


Carol Johnson, William Goings To Serve On Penn Mutual Board of Trustees

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John Caserta, managing partner at Penn Mutual's Caserta & de Jongh, is featured on WTNH-TV, "Good Morning CT," to discuss how individuals can review their insurance coverage and adjust where needed. "With life insurance, I always tell people the earlier the better because it is based on age and health. It's always a lot easier to get it when you're younger and healthier, and probably ends up being less expensive as well," he says.


National Insurance Awareness Day

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Jason Mackey of the Pittsburgh Post-Gazette features Nick Carey, winner of Penn Mutual's fourth annual Life of Significance Award, in an article highlighting his recognition. "Nick has devoted himself to a life of service while maintaining a strong leadership role in whatever he does. His dedication to being a team member while also helping others is what the sport of rugby is all about," Carey's coach explains.


Selflessness natural for Glenshaw native Nick Carey

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Ande Frazier, president of Leap Systems, an independent affiliate of Penn Mutual, is included in Rebecca Lake's Investopedia article discussing diversity in the financial services industry. "When people aren't able to find an adviser they connect with, they get discouraged and procrastinate or start looking elsewhere for guidance. They're turning to robo-advisers, the internet, or their family members and friends for advice, therefore discounting the important role of the adviser," she says.


FA Profession: Accountable for Lack of Diversity

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Tom Harris, executive vice president at Penn Mutual, contributes a byline to ThinkAdvisor about enlisting veterans in the financial services industry. "Throughout my career, I’ve come to learn that military veterans possess the characteristics of superstar associates in the making. They’re intelligent, willing to put in the work, have an entrepreneurial spirit and a strong sense of purpose, and they understand the importance of collaboration and teamwork," he says.


Let's Help Enlist Veterans in Financial Services Careers

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Penn Mutual is included in Ronald Pechtimaldjian's ThinkAdvisor article honoring financial advisers who served or are currently serving in the military. Jim Cote, financial adviser at Penn Mutual’s Concord Wealth Management, and Thomas Fogerty, financial adviser at Penn Mutual’s Lakeshore Wealth Strategies are both included with stories of their service.


Honoring Advisors Who Serve(d): Memorial Day, 2018

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Andy McInerney, enterprise networking director of Penn Mutual, is included in Calvin Hennick’s BizTech magazine article discussing how the company is transforming by adopting a cloud-managed Wi-Fi network. "You can see everything about that user, that machine, what applications they're hitting. You can create policies to curtail application-based issues. It's an incredible amount of data that's easy to see and digest, and that allows you to troubleshoot," he says.


Businesses Transform Their Wi-Fi Management in the Cloud

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Allison Bell of ThinkAdvisor includes Penn Mutual in an article discussing new permanent life insurance updates and products. Penn Mutual is included for their release of the Survivorship Choice Whole Life policy, which allows two spouses to use the policy to insure both lives.


5 New Life Products for Spring

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Ray Caucci, senior vice president at Penn Mutual, contributes a byline to Life & Health Advisor discussing ways life insurance closes the retirement income gap. "Permanent life insurance allows policyholders to accumulate cash value that can be used in retirement, which can come in handy should a client experience a cash shortfall. Also, starting early while young and still healthy can make permanent life insurance policies more affordable," he says.


The Far Reach Of Protection

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Penn Mutual is included in a Bucks County Courier Times article for being the recipient of Neumann University’s 2017-2018 Institute for Sport, Spirituality and Character Development award. This is the university's highest honor, and recognizes organizations that celebrate sports and exemplify fundamental values such as integrity, service and excellence.


Bucks and Montgomery County business achievers, April 27

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Eileen McDonnell, chairman and CEO of Penn Mutual, is featured in Meghan Glass’s CatholicPhilly.com article about Penn Mutual’s receipt of the 2018 Institute for Sport, Spirituality and Character Development Award. "What we saw in rugby, was the same values we live by – the same values honored in our Penn Mutual ‘Life of Significance’ award: integrity, respect, relationships, service. I believe that the living tradition of rugby has something to teach us all, something you are honoring with this award," she says.


Neumann U lauds Penn Mutual’s support of rugby

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InsuranceNewsNet features a Penn Mutual press release announcing the launch of Survivorship ChoiceSM Whole Life. With this launch, Penn Mutual is now the only carrier in today’s market to offer survivorship life insurance products in both the whole life and indexed universal life spaces.


Penn Mutual Launches Survivorship Choice Whole Life

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Eileen McDonnell, chairman and CEO of Penn Mutual, is featured on a Bloomberg TV segment with host Vonnie Quinn discussing the rich history of Penn Mutual’s diverse workforce. "For Penn Mutual, we’ve had a long history of having a workforce that has been diverse. And I think what we’ve been able to demonstrate is by having a board that is over 40 percent female and a C-Suite that is pushing 40 percent, we’ve been able to have eight consecutive years increasing earnings," she says.


Penn Mutual CEO Sees Earnings Boost With Boardroom Equality

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Eileen McDonnell, chairman and CEO of Penn Mutual, is featured on a 33Voices.com podcast discussing leadership and innovation within the financial services industry. “Coming through the ranks of the insurance industry, I believe I was given opportunities because there was a skill set and abilities that complimented the men I was working with. They looked to me to complete them, and as I moved along with my career, I was looking for others who could compliment me. The best results over my career, and my best performance, was when I had been in a position where there was shared leadership, among both men and women with diverse backgrounds,” she says.


Eileen McDonnell: Reimagining Leadership in Financial Services

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Eileen McDonnell, chairman and CEO of Penn Mutual, is featured in Michael Woodward’s Psychology Today article discussing the importance of working with professionals who aren't afraid to voice their opinions and how crucial it is to have a diverse and collaborative team. “Truth be told, even with some of the great work I am getting recognized for over my career, it’s always because I’ve had a vision that relied on the input from a lot of different people around me,” she says.


How to Harnesses the Power of Listening

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Moira Vetter of Forbes features Eileen McDonnell, chairman and CEO of Penn Mutual, in a Q&A piece highlighting her role as transformational leader in the financial services industry. When discussing entrepreneurship and female leadership McDonnell says, "Entrepreneurship is not about the number of years you’ve been in business—it is a frame of mind. It’s why people came up with the term intrapreneur."


Penn Mutual Makes Capital For Women Founders A Pillar Of Transformation

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Christine Hennigan, ChFC, of Penn Mutual’s 1847Financial, is included in Brian O’Connell’s InsuranceNewsNet article discussing the importance of couples having assets in their own name, and consulting with an adviser when going through a divorce. “If the couple divorces, hiding assets or moving money around without the other party's knowledge can come under scrutiny, especially in the event of a divorce or a troubling relationship situation,” she says.


January Splits Leave Divorced Couples in Need of Financial Planning

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Amy Williams, assistant vice president of human resources at Penn Mutual, is included in Andrew Mcllvaine’s Human Resource Executive article detailing her perception on Penn Mutual candidates. “Three years ago, people were just looking for something to pay the bills until they found their dream job; now, they’re much choosier,” she says. “At Penn Mutual, the company emphasizes its peer-to-peer recognition program, called Pride, as well as its collaborative culture.


Dealing with Choosier Job Candidates

Peter Owh Promoted to Managing Partner of Centra Financial Group

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HORSHAM, Pa. – December 10, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is excited to announce the promotion of Peter Owh to managing partner of its Rochester agency, Centra Financial Group. Formerly the managing director, Owh will lead the firm through a seamless transition, focusing on providing a high-touch experience for clients and advisers as well as leveraging relationships for growth and expansion in the years ahead.
 
Centra’s forthright and thoughtful leadership transition to Owh was a two-year process, designed to create a consistent and uninterrupted change of hands while the business continues to build its legacy. 
 
A Retirement Income Certified Professional (RICP), Owh got his start in the financial services industry in 2000 and began his relationship with Penn Mutual through its Independence Financial Network (IFN). In 2012, Owh was recruited to Penn Mutual’s Long Island agency as a sales manager and was subsequently introduced to Centra Financial Group’s Jim Cerone, who was developing a succession plan for the business. Owh joined the firm as managing director in November 2017.
 
In his new role, Owh is responsible for recruiting, training and developing advisers for the organization, helping them elevate their practices and position the firm for growth.
 
“We’re excited about the internal succession at Centra to create continuity for the firm. Peter has become wholly ingrained with the firm and is ready to take it to the next level,” explains Tom Harris, executive vice president and chief distribution officer at Penn Mutual. “Centra has been an institution in upstate New York for decades and we’re happy that the clients, advisers and staff can continue to grow through this change.”
 
“When I came across Penn Mutual early in my career, the product line was the best kept secret in the industry, and is what initially intrigued me about the company,” says Owh. “What felt unique was that everyone is moving in the same direction with mutually aligned goals from top to bottom, across the company and within the field agency system. I’m eager to step up and feel well positioned to successfully lead Centra in the right direction for growth ahead.”
 
Originally from Toronto, Owh now lives in Webster, NY and serves as vice chair for the United Methodist Frontier Foundation.


 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 
Contact
 
Haley Rosa
Gregory FCA
(610) 228-2805
Haley@gregoryfca.com

 
Jeff Leinen
Penn Mutual
(215) 956-8530
Leinen.Jeff@pennmutual.com
 


 
2855882CC_Dec21


The Penn Mutual Life Insurance Company Promotes Peter Owh to Managing Partner of Centra Financial Group

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HORSHAM, Pa. – November 25, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce that the company has maintained its dividend scale for 2020, and has been approved for a $100 million payout to eligible policyholders in 2020.
 
Dividends are a key measure of a mutual company’s performance and Penn Mutual has paid dividends to eligible policyholders every year since 1847. This announcement extends the company’s long track record of delivering strong performance and value to policyholders.   
 
“It is a remarkable achievement to be able to maintain our dividend scale in a low interest rate environment,” says Eileen McDonnell, chairman and CEO of Penn Mutual. “Our dividend action over the last 20 years remains one of the strongest and most consistent in the insurance industry, and is foundational in our commitment to serving the best interests of our policyholders and advisers well into the future.”
 
Visit the Penn Mutual website for more information about the company’s financial strength: https://www.pennmutual.com/about-us/financial-strength/ratings

 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 
Contact
 
Darby Rowe
Gregory FCA
(610) 228-2148
Darby@gregoryfca.com
 
Jeff Leinen
Penn Mutual
(215) 956-8530
Leinen.Jeff@pennmutual.com


 
Dividends are determined annually, subject to change and are not guaranteed. Past performance is no guarantee of future results.
 
2837465CC_Nov21



The Penn Mutual Life Insurance Company Maintains Dividend Scale and Awards $100 Million Payout in 2020

Jim Garabedian New Managing Director of Lakeshore Wealth Strategies

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HORSHAM, Pa. – November 20, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce Jim Garabedian as the new managing director of its Chicago agency, Lakeshore Wealth Strategies. In his new role, Garabedian focuses his attention on sales management, recruitment and retention.
 
Garabedian has served in the financial services industry for over 27 years, with a decade of his tenure spent in banking and money management. Through previous roles, he developed a passion for helping closely held businesses with their overall financial planning.
 
Garabedian joining the agency is the first major strategic move made by the new managing partner, Teresa Fitzgerald, who was appointed to her role on August 1. Together, Fitzgerald and Garabedian will oversee the Lakeshore Wealth Strategies’ growth objectives.
 
“Jim’s customer-first attitude and experience make him the perfect fit for our Chicago agency,” explains Tom Harris, executive vice president and chief distribution officer at Penn Mutual. “Under this leadership team, Lakeshore stands in a prime position to elevate services and expansion efforts across the region.”
 
“I am excited to join the Lakeshore team,” says Garabedian. “The values of the agency thoroughly align with mine and make for a great foundation for sales and adviser development.”
 
A Massachusetts native, Garabedian has qualified for multiple national recognition programs during his career, including the Million Dollar Round Table. He and his family reside in Naperville, Ill., where he gives back to the community by volunteering at The American Cancer Society, Wounded Warriors Foundation, Lurie Children’s Hospital and a variety of mentorship programs in schools across the country.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 
Contact
 
Hannah Miller 
Gregory FCA
(610) 228-2287
Hannah@gregoryfca.com
 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
 

2813819CC_Nov21


The Penn Mutual Life Insurance Company Announces New Managing Director of Lakeshore Wealth Strategies

Penn Mutual CIO Greg Driscoll presented with a 2019 Philadelphia CIO of the Year ORBIE Award

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HORSHAM, Pa. – October 23, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is excited to announce that Greg Driscoll, senior vice president, service operations and chief information officer, has been presented with a 2019 Philadelphia CIO of the Year ORBIE Award. The award highlights the best-of-the-best in Philadelphia technology leadership.  
 
The annual award showcases CIOs across all industries who have led their companies to innovative success, while inspiring transformation in their organizations through technology advancements. Driscoll was recognized within the Large Enterprise category during the PhillyCIO award ceremony held on October 18.
 
Since joining the company in 2004, Driscoll’s passion for innovation and technology application with a hands-on approach has recast Penn Mutual’s customer experience and capabilities through enhanced digital engagement. Under his guidance, Penn Mutual has extended its leadership position in the life insurance industry by establishing a culture of innovative thought and continuous technology improvement.
 
Most notable was Driscoll’s leadership of his team’s creation, development and execution of Penn Mutual’s industry-leading, end-to-end digital life insurance buying experience. The Accelerated Client Experience (ACE) streamlines the life insurance application processing and decision-making timeframe from an industry average of 30 days or more to as little as 24 hours. The platform rolled out in 2017 with significant success, including $72 million in first-year new premiums. Setting a new precedent within the insurance industry, ACE continues to drive substantial impact to company performance in sales, provides efficiency in adviser adoption, and has elevated the profile of Penn Mutual across the industry as a leader in innovation. 
 
“Greg’s vision and drive has put Penn Mutual in an enviable position to emerge from the shadows of an industry that has been typically slow to change and innovate,” says David O'Malley, president and COO at Penn Mutual. “His strategic decisions and approach to technology set the stage for us to transform the way we conduct business internally, while helping us revolutionize how our policyholders purchase life insurance.”
 
Commenting on his award recognition, Driscoll explains, “Of all our achievements at Penn Mutual, I’m most proud of building a culture of continuous improvement aligned with our strategic direction. I applaud my team for their dedication to define a new standard of technology at Penn Mutual – one that orients our associates to take risks while continually enhancing products and services that we provide to our advisers and policyholders.” 


 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 
Contact
 
Karyn Baldwin
Gregory FCA
(610) 228-2107
Karyn@gregoryfca.com
 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com

 

2780985TM_Oct21



Greg Driscoll of The Penn Mutual Life Insurance Company Honored with 2019 Philadelphia CIO of the Year ORBIE Award

Executives from the Penn Mutual family of companies awarded Philadelphia CIO of the Year ORBIE Award

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Left to right: Greg Driscoll, SVP and CIO, Penn Mutual and Bob Thielmann, SVP and CIO, Janney Montgomery Scott.
 
HORSHAM, Pa. – October 22, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is excited to announce that two executives from their family of companies were presented with 2019 Philadelphia CIO of the Year ORBIE Awards. Greg Driscoll, senior vice president, service operations and CIO at Penn Mutual, and Robert Thielmann, senior vice president and CIO at Janney Montgomery Scott (Janney), an independently operated affiliate of Penn Mutual, earned recognition within the ORBIE’s Large Enterprise category and Enterprise category, respectively.
 
Announced at the PhillyCIO award ceremony on October 18, the recognition highlights the best-of-the-best in Philadelphia technology leadership. For Penn Mutual, the wins for both Driscoll and Thielmann underscore the innovative success and technology advancements within the company’s corporate family and reinforce the ability to attract top talent.
 
“Greg and Bob’s recognition is a larger testament to the innovative strength of our family of companies and our unwavering commitment to providing best in class service to our advisors and their clients,” says Eileen McDonnell, chairman and CEO at Penn Mutual.
 
Since joining the company in 2004, Driscoll’s passion for innovation, and technology application with a hands-on approach, has revolutionized Penn Mutual’s customer experience and capabilities through enhanced digital engagement. Most notably, Driscoll led his team in the creation, development and execution of Penn Mutual’s industry-leading, end-to-end digital life insurance buying experience. The Accelerated Client Experience (ACE) streamlines the life insurance application processing and decision-making timeframe from an industry average of 30 days or more to as little as 24 hours. The platform rolled out in 2017 with significant success, including $72 million in first-year new premiums. Setting a new precedent within the insurance industry, ACE continues to drive substantial impact on company sales performance, provides efficiency in adviser adoption, and has elevated Penn Mutual’s profile across the industry as a leader in innovation. 
 
Thielmann is a decorated leader in the technology world and a seasoned financial services executive. Since joining Janney in 2008, he has incorporated advanced IT capabilities and innovation to strengthen technology development, infrastructure, and security, allowing Janney’s financial advisors to more efficiently and effectively serve their clients. 
 
Most recently, Thielmann’s team successfully implemented two critical platforms: an award-winning financial advisor dashboard that increases productivity for Janney advisors to more effectively and efficiently manage individual client portfolios and a client’s overall financial plan, and a client site that improves a client’s direct access to information and reinforces the client-advisor relationship. During his tenure, Computerworld and InformationWeek selected Janney five times in the past six years as one of the “100 Best Places to Work in IT” or on their “Elite 100 Firm,” rankings. Additionally, WealthManagement.com has twice recognized Janney for outstanding achievement in technology for broker-dealers with less than 1,000 financial advisors.


 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 
About Janney Montgomery Scott LLC 
 Janney provides advice to individual, corporate, and institutional clients. Our expertise includes guidance about asset management, corporate and public finance, equity and fixed income investing, equity research, institutional equity and fixed income sales and trading, investment strategy, financial planning, mergers and acquisitions, public and private capital raising, portfolio management, retirement and income planning, and wealth management. Janney is an independently-operated subsidiary of The Penn Mutual Life Insurance Company and is a member of the Financial Industry Regulatory Authority, New York Stock Exchange, and Securities Investor Protection Corporation. Additional company information is available at www.janney.com.
 
Contact
 
Karyn Baldwin
Gregory FCA
(610) 228-2107
Karyn@gregoryfca.com
 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
 

2786771TM_Oct21


2019 ORBIE Awards Honor Two Executives from The Penn Mutual Life Insurance Family of Companies

Teresa M. Fitzgerald Managing Partner of Lakeshore Wealth Strategies

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HORSHAM, Pa. – October 15, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce Teresa M. Fitzgerald as the new managing partner of Lakeshore Wealth Strategies, its Chicago agency. With a background in strategic market and business development, Fitzgerald is in prime position to lead the agency toward optimal growth.
 
Fitzgerald joined the financial services industry in 2006, and during her tenure as an adviser and consultant, found a passion for serving clients at a mutual company. She specializes in financial adviser and team business coaching, talent management, leadership development and financial consulting. In her new role, she will work with advisers in career development, growth and market expansion.
 
“Teresa is a welcome addition to the Lakeshore and Penn Mutual team,” says Tom Harris, executive vice president and chief distribution officer at Penn Mutual. “Her experience working within a mutual company aligns with our philosophy of putting our clients and policyholders first. Teresa’s ability to network with those around her will serve well as she oversees the agency’s growth in the greater Chicago area.”
 
“I’m excited to support Lakeshore’s growth and for the opportunity to work with a company that truly cares about its policyholders,” says Fitzgerald. “Connecting with others is one of my passions and I’m committed to working with our advisers as they strive to build a career of sustainability and excellence.”
 
Fitzgerald and her family currently reside in New Lenox, Ill. In her spare time, she gives back to other women in business as a mentor with the Chicago-based PINNK organization. In 2019, Fitzgerald was nominated to the 2019 North Shore Women in Business Awards in Chicago and most recently, she was nominated to the Penn Mutual 20/20/20 Women in Leadership program.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 
The requirements of the 2019 North Shore Women in Business Award do not evaluate the quality of services provided and is not indicative of the award nominee’s future performance.
 
Contact           
 
Haley Rosa
Gregory FCA
(610) 228-2805
haley@gregoryfca.com

 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
 
2757959TM_Oct21


The Penn Mutual Life Insurance Company Announces New Managing Partner of Lakeshore Wealth Strategies

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HORSHAM, Pa. – September 23, 2019 – Hornor, Townsend & Kent, LLC (HTK), one of the top broker-dealers and a Registered Investment Adviser (RIA) supporting independent financial advisers across the U.S., hosted a new national conference, HTK Discover19, in Philadelphia, for three days of learning, networking and inspiration. Nearly 250 attendees — with the vast majority including financial advisers who are affiliated with HTK, as well as HTK product sponsors and technology partners, and HTK home office associates — convened at The Bellevue Hotel from Monday-Wednesday, September 16-18, 2019.
 
Dr. Jeremy Siegel, the renowned Russell E. Palmer Professor of Finance at The Wharton School of the University of Pennsylvania, who is a frequently called-upon expert on the economy, served as the event’s keynote speaker and shared his insights on financial markets during his presentation on Tuesday afternoon.
 
Other highlights of the conference included:
 
 
An update from Tim Donahue, HTK’s president and CEO, that included a review of recent enhancements made to the HTK RIA program and the announcement of the firm’s offering of AdvicePay, a payment solution for fee-based financial planning services;   
 
An executive update from Penn Mutual with Chairman and CEO, Eileen McDonnell; President and Chief Operating Officer, David O’Malley; and Executive Vice President and Chief Distribution Officer, Thomas Harris, CLU®, ChFC®, FLMI;
 
A mainstage presentation from Daniel Egan, managing director of behavioral finance and investing at Betterment, and an interview with Dale Brown, CAE, president and CEO of the Financial Services Institute;
 
More than a dozen breakout sessions covering topics on practice management, business continuity, behavioral finance, the HTK Advisory Series powered by Envestnet, investment solutions, investor profiles, high net-worth clientele and more;
 
A Practice Management Pavilion and networking hour with more than 20 product solutions and technology vendors, and one-on-one trainings with the HTK home office.
 
 
“At HTK, we pride ourselves on being a high-touch organization, and our business is built on strong relationships,” says Donahue. “In today’s fast-paced, digital world, there is no substitute for the value of in-person connection. As HTK celebrates our 50th anniversary this year, it was the perfect time to bring our advisers together to celebrate all that we have accomplished together, and to provide the tools and knowledge to help drive our advisers’ success in the years to come.”
 
HTK thanks its sponsors of HTK Discover19: Hootsuite, Docupace, Forefront Analytics, Goldman Sachs Asset Management, Manning & Napier and Symmetry Partners.
 
About HTK
HTK is a broker-dealer and Registered Investment Adviser supporting independent financial advisers across the U.S. For more than 50 years, HTK has been the trusted partner supporting advisers on their path to success. HTK is committed to offering advisers the independence to build their practice their way through the delivery of a flexible platform, leading solutions and personalized service. Hornor, Townsend & Kent, LLC (HTK) is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. Member FINRA/SIPC. Visit www.htk.com. 

Contact             
Stephanie Kensy
HTK
(215) 956-8337
skensy@htk.com
 
 
 
2737389TM_Sept21


HTK Hosts New National Financial Adviser Conference

Penn Mutual 2019 Parents and Grandparents Financial Planning Survey

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HORSHAM, Pa. – September 3, 2019 – According to a 2019 study conducted by The Penn Mutual Life Insurance Company (Penn Mutual), millennials — more so than earlier generations — are placing a greater emphasis on planning lifestyle-oriented details when it comes to starting or expanding their family.
 
The survey, which polled 2,000 parents nationwide, shows that 41% of millennial respondents planned the season or month when at least one of their children would be born. Only 19% of Generation X and 13% of baby boomers, respectively, planned the month or season of their child’s birth.
 
At the same time, the survey ranked what millennial parents deem “extremely important or very important to-dos” before a baby’s birth, and the results found that lifestyle decisions, such as decorating a nursery or choosing gender-specific clothing, are more important than some financial elements, such as initiating a 529 college savings plan, purchasing life insurance or creating a will.
 
“The survey underscores a shift from prior generations. By contrast, parents today dedicate an extensive amount of time to planning,” explains Eileen McDonnell, chairman and CEO at Penn Mutual. “From establishing a childcare solution to decorating the nursery, these details are thought out well in advance. This generation of new parents has shown a natural inclination to embrace preparation, so with this foundation in place, now is the time to capitalize on planning for their financial future by working with an adviser.”
 
McDonnell sees the opportunity to connect the dots between the tendency to plan and the education available to help steer that planning process. “Not only is September Life Insurance Awareness Month, but studies have shown that it’s also the month when the most babies are born in the U.S. This combination of parents welcoming babies and the industry’s efforts to heighten awareness of life insurance creates an ideal time for a discussion around long-term planning.”
 
The survey also highlighted the fact that parents across all generations put more planning effort into short-term experiences — such as their most recent family vacation — than they do for long-term financial decisions, such as planning for retirement or their children’s college education.
 
“Now is a great time to learn how life insurance coupled with other strategies can help growing families strengthen their financial position,” McDonnell explains. “There is so much versatility within a permanent life insurance policy across one’s lifetime. The accumulated funds can go toward meaningful life moments and expenses, such as your child’s college or a wedding, your retirement and more. It’s critical that parents understand the power that life insurance brings to their financial plan, especially as their family grows.”
 
For more information on the full study, please visit https://www.pennmutual.com/parenthoodandlife.


 
About The Penn Mutual Life Insurance Company
 
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.


 
Contact
 
Karyn Piechule
Gregory FCA
(610) 228-2107
Karyn@gregoryfca.com
 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com

 

2705786TM_Aug21


National survey reveals 41% of American millennial parents plan season or month of their baby's birth; but preference to plan is missing the mark when it comes to finances

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HORSHAM, Pa. – August 12, 2019 – Hornor, Townsend & Kent, LLC (HTK), a top broker-dealer and registered investment adviser supporting independent financial advisers across the U.S., announces the launch of the HTK Flex Vendor Program, a suite of business solutions and tools to help advisers registered with HTK manage and build their financial practices. 
 
Through the HTK Flex Vendor Program, HTK advisers have access to and receive discounted rates from several industry-leading tools and software spanning six specialties: customer relationship management (CRM), financial planning, investment research, client reporting, paperless office (document management), and marketing and social media. These solutions are in addition to the state-of-the-art tools and systems already in place at HTK and available to HTK advisers.
 
“At HTK, we continually evaluate the latest technology to offer our advisers the best-in-class solutions available,” says Tracy Zimmerer, managing director of operations, HTK. “We also understand that the choices on the market can be overwhelming for the independent adviser. For this initiative, we carefully researched the tools in high demand among financial advisers today, as well as vetted tools for compatibility, functionality and special features to help our advisers work more efficiently and best serve their clients.”
 
Solution providers who are part of the HTK Flex Vendor Program include eMoney, Envestnet MoneyGuide, Fi360, FMG Suite, Junxure, Redtail, Riskalyze, Zacks and others. Industry-leading solutions that are currently offered to advisers affiliated with HTK include Ebix SmartOffice, BNY Mellon’s Albridge, Hootsuite, Morningstar AWS and more.
 
“One of the hallmarks of HTK is our flexible platform, and we are committed to supporting our advisers to build their practice, their way,” says Tim Donahue, president and CEO, HTK. “With the HTK Flex Vendor Program, we are delivering upon our promise of the freedom of choice, so that our advisers can select the tools and software that best fit the unique needs of their business.”
 
HTK advisers will work directly with third-party vendors to use their tools. Each participating vendor has agreed to provide the HTK network of more than 800 financial advisers with special discounted rates.
 
HTK advisers can learn more about the HTK Vendor Program by logging on to the HTK Resource Center. For more information about HTK, visit www.htk.com.
 
About HTK
HTK is a broker-dealer and registered investment adviser supporting independent financial advisers across the U.S. For more than 50 years, HTK has been the trusted partner supporting advisers on their path to success. HTK is committed to offering advisers the independence to build their practice their way through the delivery of a flexible platform, leading solutions and personalized service. Hornor, Townsend & Kent, LLC (HTK) is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. Member FINRA/SIPC. Visit www.htk.com.


 
Contact             
 
Stephanie Kensy
HTK
(215) 956-8337
skensy@htk.com
 

2641457AL_JUL21


HTK Launches New Flex Vendor Program

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HORSHAM, Pa. – August 12, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) announces a new multi-year agreement with the National Small College Rugby Organization (NSCRO), continuing its support as the organization’s top sponsor — a distinction Penn Mutual has held since 2015.
 
In this new agreement, Penn Mutual will continue to encourage the development of small college rugby by supporting various programs, including the Penn Mutual NSCRO Student-Leader of the Month. In addition, Penn Mutual looks to continue its support of the NSCRO National Championship events, NSCRO Men’s and Women’s All-Star tournaments and Women’s 7s Select Side.
 
“We’re excited to continue our relationship with NSCRO and make deeper connections within the rugby community,” says Eileen McDonnell, chairman and CEO of Penn Mutual. “This new agreement provides Penn Mutual the opportunity to continue to support collegiate rugby at a grassroots level. It’s always a pleasure to work alongside an organization that is equally dedicated to help rugby grow within the U.S.”
 
NSCRO’s main objective is to foster the on- and off-field growth and development of small college rugby that builds young adults into tomorrow’s leaders. With the help of various partnerships, NSCRO has evolved into an organization offering seven national championships, talent development pathways for both men and women, and a tremendous student-athlete experience for its members. Since its founding in 2007, NSCRO has grown to service nearly 400 men’s and women’s college teams across the U.S. As top sponsor, Penn Mutual has been instrumental in the growth of NSCRO, guiding the organization to improve the overall collegiate rugby experience.
 
“This partnership with Penn Mutual will allow our organization to expand and, more importantly, create the next generation of American leaders and rugby players,” says Steve Cohen, president of NSCRO. “We’re excited to contribute to the continuing growth of college rugby.”

About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.

About NSCRO
Since 2007, the National Small College Rugby Organization (NSCRO) has been at the forefront of fostering and developing small college rugby programs in the United States. NSCRO is a non-profit organization dedicated to providing services to small college programs that raise the profile, image, and benefits of collegiate rugby in the eyes of school administrators.
 
Comprised of nearly 400 men’s and women’s college rugby clubs who participate in more than 30 leagues, NSCRO provides an opportunity for these programs to showcase their abilities to a broader audience with a chance at a national title and ranking. Along with recognizing club and player success on and off the field, the increased visibility NSCRO creates has led to improved school support, greater on-campus interest in rugby, and growth in financial support and alumni involvement. 
 
 
Contact         
 
Darby Rowe
Gregory FCA
(610) 228-2148
darby@gregoryfca.com                           

Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
               
 
2663208TM_Jul21


The Penn Mutual Life Insurance Company Signs a New Multi-Year Agreement with the National Small College Rugby Organization

Welcome Cale Smith, new managing partner of Penn Mutual South

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HORSHAM, Pa. – July 22, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce Cale P. Smith as the new managing partner of Penn Mutual South, its Baton Rouge, Louisiana agency. With eyes on growth, Smith will use his nearly 20 years of experience in the financial services industry to support and strengthen Penn Mutual’s southern presence.
 
Smith has a history of success, having grown his career at Northwestern Mutual and MassMutual, and will continue to build upon his achievements at Penn Mutual. Smith is certified as a Life Underwriter Training Council Fellow (LUTCF) and a Chartered Life Underwriter (CLU). He is also a licensed insurance agent in five states.
 
Financial planning is a passion for Smith. He and his wife, Katherine, personally funded the Cale P. & Katherine Smith Student Financial Management Center at Louisiana State University. This center serves to educate and empower students to manage and secure their financial futures. Smith also regularly gives lectures at the university’s business college and professional sales institute.
 
“We are always striving to help people do more in life,” says Tom Harris, executive vice president and chief distribution officer at Penn Mutual. “Cale’s extensive experience and vast knowledge of the industry will only help Penn Mutual in this goal. His focus on expansion across Louisiana and into Southern Mississippi, Alabama and the Gulf Coast of Florida will serve us well as we position ourselves as a leader in the life insurance industry.”
 
Smith’s expertise extends beyond the financial services industry, having served as a combat medic with the U.S. Army for 14 years. In this role, he ran battalion aid stations for wounded soldiers, and assisted with natural disaster relief. The lessons he learned while serving in the Army are now a focal point of his insurance career as he works to take the best financial care of his clients.
 
“I’m thrilled for this new opportunity to align myself with a company that has a strong financial history and products that are competitive in the life insurance industry,” says Smith. “Partnering with Penn Mutual will allow me to make the greatest impact in my community and beyond.” In addition to expanding the company’s presence in the South, Smith will also be responsible for recruiting and developing advisers to help them meet their clients’ long-term financial goals.
 
Smith and his family have made their home in Baton Rouge, where he serves on the board of several local foundations and charities.
 

About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.


 
Contact           
 
Melanie Yuill
Gregory FCA
(215) 488-1239
darby@gregoryfca.com
 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com


 
2641394TM_Jul21


The Penn Mutual Life Insurance Company Announces New Managing Partner of Penn Mutual South

Melanie Colusci, recipient of the 2019 Rob Holmes Financial Professional of the Year Award

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Left to right: Tim Donahue, president and CEO of HTK, Damon Colusci, VP of Bridger Financial Group, Melanie Colusci, president of Bridger Financial Group, and Tom Harris, EVP and chief distribution officer of Penn Mutual.
 
 HORSHAM, Pa. – July 19, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce Melanie Colusci, CFP®, AEP®, as the recipient of the 2019 Rob Holmes Financial Professional of the Year Award. Colusci is the president and founder of Bridger Financial Group, associated with 21st Century Financial, Penn Mutual’s Ohio and Western Pennsylvania agency.  
 
The award recognizes individuals for their commitment to continuing education, and a high standard of ethics and performance in helping clients achieve financial security. Recipients of the Rob Holmes Financial Professional of the Year Award must demonstrate exceptional dedication to their clients and the financial services profession, be members in good standing of specific industry organizations, and have achieved a high degree of sales success.
 
Colusci, a 20-year veteran of the financial services industry, develops and executes long-term, strategic financial plans to make her clients’ visions a reality. She takes inspiration from the female entrepreneurs she works with daily and understands their needs and goals for lasting financial security.
 
“Receiving this distinguished award is such an honor,” said Colusci. “It’s my mission to empower my clients and inform them about the possibilities that can come from creating a financial plan that satisfies their long-term goals. I am proud to devote my time to learning and growing in this profession so that I can help clients maximize their wealth potential and fulfill their dreams.”
 
“Melanie has dedicated her career to improving the lives of her clients, which is a testament to her commitment to the profession,” said Tom Harris, executive vice president and chief distribution officer at Penn Mutual. “She continues to inspire those around her, and Penn Mutual is pleased to honor her with this well-deserved award.”
 
Colusci is a multi-year winner of the Five Star Wealth Manager award, and she is currently a member of the Women Presidents’ Organization and Pittsburgh Women’s Mastermind.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at www.pennmutual.com.
 
Contact

Morgan Polley
Gregory FCA
610-228-2140
morgan@gregoryfca.com
 
Lauren Kane
Penn Mutual
215-956-8760
Kane.Lauren@pennmutual.com


 
The requirements of the Rob Holmes Financial Professional of the Year Award do not evaluate the quality of services provided to clients and is not indicative of the applicant’s future client performance.
 
The Five Star Wealth Manager Award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on objective criteria including credentialing and designations, compliance with Firm and regulatory standards, client retention rates, households served and assets managed. Wealth managers do not pay a fee to be considered or awarded. Once awarded, wealth managers may opt to purchase additional profile ad space or related award promotional products. The award methodology does not evaluate the quality of services provided. The award is not indicative of the award winner’s future performance. 1,667 Pittsburgh area wealth managers were considered for the award; 251 (approximately 15% percent of the award candidates) were named Five Star Wealth Managers.
 
2639340TM_Jul21
 




The Penn Mutual Life Insurance Company Presents Melanie Colusci with the 2019 Rob Holmes Financial Professional of the Year Award

John Young, the new VP of Marketing and Communications.

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HORSHAM, Pa. – July 9, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce John Young has joined the company as vice president of marketing and communications. With experience in the life insurance industry as well as technology and startups, Young brings a unique mix of marketing, communications and customer engagement expertise to the Fortune 1000 company.
 
“Innovation is key to delivering value to existing and future clients,” says Dave O’Malley, president and COO at Penn Mutual. “We specifically wanted a marketing and communications head who had diverse experience, and could draw from the innovation economy to better position Penn Mutual for the future. John’s 30 years of experience in diverse industries will play a critical role in telling our story in a compelling, differentiated manner to advisers and consumers.”
 
Part of that mission is to communicate Penn Mutual’s industry leadership and innovation. Young will bring a fresh perspective to Penn Mutual, allowing the company to continue to maintain a competitive edge within the financial services industry. Technology is a key component in connecting with current and potential customers, as well as working with the advisers who serve as a vital link between Penn Mutual and the end consumer.
 
“Coming to Penn Mutual and returning to the insurance industry represents a bit of a homecoming,” says Young, who worked in the industry early in his career before co-founding a financial technology company and later serving as vice president of customer engagement at Comcast. Most recently, Young founded a boutique marketing firm focused on helping technology startups grow.
 
“Relationships are at the heart of Penn Mutual, within the company and among the advisers and clients we serve. I am excited to elevate the company’s already well-established brand, taking it to new heights in the minds of financial professionals and consumers,” he says.
 
A graduate of Lehigh University, Young currently lives in the Chestnut Hill neighborhood in Philadelphia, Pa.   
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 
Contact
 
Darby Rowe
 Gregory FCA
 610-228-2148
darby@gregoryfca.com
 
Lauren Kane
 Penn Mutual
 215-956-8760
 Kane.Lauren@pennmutual.com
 
 
 
2628475TM_Jul21


The Penn Mutual Life Insurance Company Names John Young as VP of Marketing and Communications

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HORSHAM, Pa. — June 12, 2019 — The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce the election of former president and chief executive officer of Beneficial Bank, Gerard P. (Gerry) Cuddy, to the company’s board of trustees. Cuddy joined the board on April 1, 2019.
 
Cuddy is an accomplished executive with extensive experience in the local banking and financial services industry. As a result of its recent merger with Beneficial Bank, he now serves on the board of directors of WSFS Financial Corporation (NASDAQ: WSFS), a multi-billion dollar financial services company based in Wilmington, Delaware. He also held senior management positions with First Union National Bank and Citigroup in the metro Philadelphia region, and served as senior vice president of Fleet/Bank of America.
 
Cuddy joins the Penn Mutual board of trustees as the 172-year-old company continues its impressive growth. Since debuting on the Fortune 1000 list in 2015 at number 980, Penn Mutual has continued to climb the rankings, ascending to number 723 in the recently released 2019 rankings. Additionally, the company oversees more than $150 billion of life insurance in force. 
 
Of Cuddy’s inclusion to the board, Eileen McDonnell, chairman and CEO of Penn Mutual, says, “The foundation of our company is built on our unwavering commitment to mutuality. We have never lost focus on the importance of our advisers and policyholders. Given Gerry’s professional experience, long tenure and impressive record within the financial sector, we know he will be a pillar in supporting our continued growth and commitment to those we serve.”
 
In addition to Penn Mutual’s board, Cuddy serves on the board of the Foreign Policy Research Institute and previously served as a Board of Education member for the Archdiocese of Philadelphia.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at www.pennmutual.com.
 
 
 
Contact
Morgan Polley
Gregory FCA
610-228-2140
morgan@gregoryfca.com
 
Lauren Kane
Penn Mutual
215-956-8760
Kane.Lauren@pennmutual.com
 
2584952TM_Jun21


The Penn Mutual Life Insurance Company Announces New Board Member

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June 10, 2019 - We are exercising leniency of any and all policy provisions or other requirements including the submission of a claim or proof of loss, reporting of information and submission of payments, to those impacted by the storms. For information or other assistance, please call us at 1-800-523-0650, Monday through Friday, from 8:30 a.m. to 6:00 p.m. EDT.


Assistance to policy and contract holders affected by Arkansas, Iowa, Missouri, Ohio and Oklahoma Storms

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HORSHAM, Pa. – June 7, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce the appointment of Sheri Rhoades to The American College Penn Mutual Center for Veterans Affairs (PMCVA) advisory board. Rhoades will join the 14-person board to support military scholarships and uphold the objectives of the organization, based in Bryn Mawr, Pa.
 
PMCVA seeks to support veterans and their spouses as they transition from active duty to careers in the financial services profession. Since its start in 2012, 500 individuals have been granted full scholarships to obtain financial designations such as the CFP®, ChFC®, CLU®, and master’s degrees as they reenter the civilian workforce. 
 
Rhoades served as a yeoman in the U.S. Navy with duty stations at the Naval Damage Control Training Center in Philadelphia and the Marine Corps Air Station in Okinawa, Japan. Her father, father-in-law, husband and son have all honorably served in the U.S. Navy. Her eight-year military career has guided Rhoades’ leadership style, most notably her philosophy on teamwork and collaboration. 
 
Currently, Rhoades is vice president, business transformation at Penn Mutual, where she has worked for the last 16 years. In this role, she is responsible for aligning Penn Mutual’s change agents with the corporate strategy to ensure visibility and clarity. Rhoades builds strong cross-functional teams that create executable programs and roadmaps to achieve goals.
 
“Sheri’s appointment to the board comes at a pivotal time for the Center as it looks to expand its initiatives,” says Eileen McDonnell, chairman and CEO at Penn Mutual. “Her experience, support for veterans and track record of success positions her well to contribute to the next wave of growth.”
 
PMCVA Executive Director Ted Digges explains that, given Rhoades’ background in the military and long-tenured work with Penn Mutual, she is uniquely qualified to not only be a part of the board, but to also have a positive impact on its objectives.
 
“Sheri’s personal and professional philosophies wholly align with PMCVA’s mission to empower veterans and their spouses with career opportunities,” says Digges. “We are excited to have her join the advisory board and know her contributions will ultimately help amplify our mission.”  
 
For more information on the Center, and its assistance to military veterans and their spouses, please visit www.veterans.theamericancollege.edu.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com. 
 
Contact
Karyn Piechule
Gregory FCA
610-228-2107
Karyn@gregoryfca.com 
 
Lauren Kane
 Penn Mutual
 (215) 956-8760
 kane.lauren@pennmutual.com
 
2571463TM_Jun21


The American College Penn Mutual Center for Veterans Affairs Names Sheri Rhoades to Advisory Board

InvestmentNews Top IBD and IBD Elite 2019

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HORSHAM, Pa. – June 3, 2019 – Hornor, Townsend & Kent, LLC (HTK), a broker-dealer and registered investment adviser supporting independent financial advisers across the U.S., announces its inclusion on two prestigious industry rankings. HTK has been named to the InvestmentNews annual “Top independent broker-dealers” list and Financial Planning magazine’s “IBD Elite” for 2019. On both lists, HTK ranked No. 37, based on revenue. HTK is also recognized by Financial Planning magazine as one of the top 10 broker-dealers in the U.S. with the fastest-growing payout for advisers in the whole sector.
 
These rankings are a testament to the strong network of HTK advisers who are driving growth. HTK increased its revenue by 16% to over $124 million in 2018. This growth was largely due to an increase in adviser productivity and a 28% rise in investment advisory business in 2018.
 
“As HTK celebrates our 50th anniversary this year, we’re proud of our strong position as a smaller firm that leverages full-scale capabilities to help our advisers be successful and best serve their clients,” says Timothy Donahue, president and CEO of HTK. “We’re energized by the momentum we’re gaining as an organization.”
 
As a wholly-owned subsidiary of The Penn Mutual Life Insurance Company, HTK has the strength and stability of a Fortune 1000 company. HTK advisers recognize the value of a firm that focuses on comprehensive financial solutions, including protection and wealth management.
 
InvestmentNews and Financial Planning are leading publications providing financial professionals with news, analysis and insight. They update their rankings of independent broker-dealers on an annual basis. The rankings are based on company data provided by each broker-dealer through a survey. All financial figures are as of December 31, 2018.
 
About HTK
HTK is a broker-dealer and registered investment adviser supporting independent financial advisers across the U.S. For more than 50 years, HTK has been the trusted partner supporting advisers on their path to success. HTK is committed to offering advisers the independence to build their practice their way through the delivery of a flexible platform, leading solutions and personalized service. Hornor, Townsend & Kent, LLC (HTK) is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. Member FINRA/SIPC. Visit www.htk.com.
 

 
Contact

 
Haley Rosa
Gregory FCA
(610) 228-2805
haley@gregoryfca.com
 
Stephanie Kensy
HTK
(215) 956-8337
skensy@htk.com    
 
2560614AL_MAY21


HTK Recognized as a Top Independent Broker-Dealer

Lance Drucker being recognized as the 2019 Blue Chip Award Winner.

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Left to right: Tom Harris, EVP and chief distribution officer of Penn Mutual, Beth Drucker, event planner of Drucker Wealth Management, Lance Drucker, president and CEO of Drucker Wealth Management, and Tim Donahue, president and CEO of HTK.

HORSHAM, Pa. – June 6, 2019 – Hornor, Townsend & Kent, LLC (HTK), a wholly-owned subsidiary of The Penn Mutual Life Insurance Company, announces Lance Drucker, ChFC®, CLU® as the winner of the annual HTK Blue Chip Award for 2019. HTK, a broker-dealer and registered investment adviser, presents this prestigious award to one of its more than 800 financial advisers each year.
 
The winner of the HTK Blue Chip Award is a financial adviser who exemplifies the principles and values of HTK. To qualify for the award, the recipient must be a top sales performer and demonstrate the highest level of integrity in meeting the needs of clients. Drucker, who has been an adviser with HTK and Penn Mutual for more than 30 years and the No. 1 adviser at HTK for more than 10 years,1 was selected by the HTK leadership team for his exceptional work in serving clients and his impact on the financial community.
 
Drucker is the president and CEO of Drucker Wealth Management (DWM), a New York City-based financial services firm that was established by his father, Bernard Drucker, in 1959.
 
“Representing our clients with the utmost integrity is at the center of what we do every day at DWM. A strong work ethic and unwavering commitment to clients has guided our work since my father founded our firm, and from a young age, these values were instilled in me,” says Drucker. “I am proud to receive this award from HTK and to uphold the highest standards of service excellence to our clients.”
 
DWM works with retirees, business owners and professionals, with a specific focus on the needs and concerns of women in transitional stages of life to help them achieve financial peace of mind. Drucker is the author of “How to Avoid Bag Lady Syndrome: A Strong Woman's Guide to Financial Peace of Mind,” and has been a called-upon financial services expert for The Wall Street Journal, CBS News, USA Today, New York Post, New York Magazine and other media. The third generation of DWM, Gideon Drucker, CFP®, specializes in helping young professionals avoid HENRY SyndromeTM, build wealth and achieve financial independence.
 
In addition to his extensive work in the financial services industry, Drucker is a proud sponsor of military veterans. For the past seven years, Drucker has organized the Polar Bear Plunge fundraiser for Folds of Honor, an organization that provides educational scholarships to the children and spouses of fallen and disabled military service members.
 
“It is a pleasure to present this award to Lance, and it is especially fitting that he would receive this award during HTK’s 50th anniversary year. We congratulate Lance and thank him for his decades of outstanding service to clients and the community,” says Tim Donahue, president and CEO of HTK.
 
1Based on yearly production levels/Gross Dealer Concession.
 
About HTK
HTK is a broker-dealer and registered investment adviser supporting independent financial advisers across the U.S. For more than 50 years, HTK has been the trusted partner supporting advisers on their path to success. HTK is committed to offering advisers the independence to build their practice their way through the delivery of a flexible platform, leading solutions and personalized service. Hornor, Townsend & Kent, LLC (HTK) is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. Member FINRA/SIPC. Visit www.htk.com.
 
Contact
Stephanie Kensy
HTK
(215) 956-8337
skensy@htk.com
 
2561519AL_MAY21
 
The requirements of the HTK Blue Chip Award do not evaluate the quality of services provided to clients and is not indicative of the applicant’s future client performance.


HTK Recognizes Lance Drucker as 2019 Blue Chip Award Winner

Left to right: Eileen McDonnell, Kraig Puccia, Joseph Jordan

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Left to right: Eileen McDonnell, chairman and CEO of Penn Mutual, Kraig Puccia, 2019 Life of Significance Award recipient, and Joseph Jordan, author of “Living a Life of Significance.”
 
HORSHAM, Pa. – June 3, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce Kraig Puccia, a sophomore at Fordham University, as the fifth annual Life of Significance Award winner. As one of three finalists selected from a nationwide field of nominees, Puccia’s recognition was unveiled during the Penn Mutual Collegiate Rugby Championship (CRC).
 
The Life of Significance Award is given annually to a collegiate rugby player, male or female, participating in the CRC, which took place at Talen Energy Stadium in Chester, Pennsylvania, from May 31 through June 2. The recipient of this award exemplifies Penn Mutual’s values of integrity, commitment and respect, and has made substantial contributions to society and their community.
 
Puccia, a 19-year-old resident of Whitestone, New York, is a devoted volunteer in his spare time and most notably, has traveled to Bethel, Alaska, as a member of Fordham’s GO! (Global Outreach) Program where he was a volunteer at the Tundra Women’s Coalition. The organization works to protect women in the community from their partners during alcohol or drug-induced episodes that threaten their safety. In 2018, Puccia volunteered at the Domestic Violence Bureau at the Queens District Attorney’s Office in Queens, New York. This summer, he plans to volunteer at the Veterans Advocacy Project through the Urban Justice Center performing pro-bono work for neglected veterans throughout New York City.
 
“Kraig is an exceptional young man who has already done so much good for the world,” says Fordham Men’s Rugby Head Coach Andrew Gheraldi, who nominated Puccia for the award. “As a man for others, Kraig is a testament to the Jesuit ideals of our university. We are proud to have him as part of our rugby program at Fordham and look forward to his continued growth both on and off the pitch.”
 
Eileen McDonnell, chairman and CEO of Penn Mutual, says Puccia’s history of service and his future goals epitomize not only what the Life of Significance award stands for, but also the values instilled throughout Penn Mutual. “Kraig’s commitment and dedication to his community and beyond is a true reflection of his character. His selflessness and passion to serve those in need make Penn Mutual proud to present him with the 2019 Life of Significance Award.”
 
Puccia now joins an elite class of previous Life of Significance winners including Nick Carey from Harvard University, Jenna Jones from the U.S. Naval Academy, David Caputo from the University of Michigan and David Schroder from the U.S. Naval Academy.
 
For his achievement, Penn Mutual will donate $5,000 to Tundra Women’s Coalition, the charity of Puccia’s choice. His rugby team will also be gifted with $1,000 worth of Rhino Rugby equipment and gear.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at www.pennmutual.com.
 
Contact
 
Darby Rowe
Gregory FCA
(610) 228-2148
Darby@gregoryfca.com     
 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
 
2562165TM_Jun21


The Penn Mutual Life Insurance Company Announces the Recipient of its 2019 Life of Significance Award

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HORSHAM, Pa. – May 28, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce two recent internal promotions that position the company for continued success and further sustain their long-term commitments to policyholders. As of April 1, Vicki Robinson, who has been with Penn Mutual since 2005, is now SVP, chief ethics and compliance officer, and Dave Raszeja, with Penn Mutual since 2001, is now SVP, financial management and chief risk officer.
 
In her new role, Robinson will lead the ethics and compliance program for both Penn Mutual and most of its affiliates. Her responsibilities will include overseeing the compliance of applicable laws, regulations, and internal policies and procedures. Robinson and her team will also partner with advisers to help educate them on regulatory matters as they work to meet their clients’ needs within a compliant environment. Prior to her promotion, she served as chief operating officer and chief compliance and risk officer for Penn Mutual Asset Management, LLC. 
 
Raszeja will oversee financial reporting, accounting, financial controls, actuarial valuation, and financial planning and analysis, along with the enterprise risk management function for the company. Beginning his career at Penn Mutual as an actuarial analyst, Raszeja climbed quickly to several other roles before being named chief risk officer in 2012 and chief ethics officer in 2014. He has also served as an adjunct professor at Columbia University, teaching courses in enterprise risk management.
 
“As a company that has delivered on its promises for over 172 years, we pride ourselves on our enduring stability and financial position in the industry. Vicki and Dave’s appointment into these roles play a major part in supporting our long-term mission to continue on this path,” explains Eileen McDonnell, chairman and CEO at Penn Mutual. “Throughout their individual tenure here at Penn Mutual, they have made many contributions to our success, and I am optimistic they will continue to uphold the commitment we make to our advisers and policyholders.”
 
About The Penn Mutual Life 
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 
Contact
 
Karyn Piechule
 Gregory FCA
 610-228-2107
 Karyn@gregoryfca.com
 
Lauren Kane
 Penn Mutual
 (215) 956-8760
 kane.lauren@pennmutual.com
 
2553790TM_May21



The Penn Mutual Life Insurance Company Promotes Vicki Robinson to SVP, Chief Ethics and Compliance Officer, and Dave Raszeja to SVP, Financial Management and Chief Risk Officer

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HORSHAM, Pa. – May 13, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) has selected three finalists for its 2019 Life of Significance Award. The award is presented at the Penn Mutual Collegiate Rugby Championship (CRC), taking place from May 31 through June 2 at Philadelphia’s Talen Energy Stadium.
 
The Penn Mutual Life of Significance Award is presented annually to one student-athlete participating in the Penn Mutual CRC, male or female, who upholds the values of the rugby community and Penn Mutual. The finalists demonstrate integrity, respect and loyalty—on and off the pitch—through mentorship, giving back to their communities and working with various charitable organizations.
 
This prestigious award was inspired by the book, “Living a Life of Significance,” by Joseph Jordan, which details the positive impact the life insurance industry has on society. Below are highlights about each finalist:
 
Matthew Crowe, Iona College, from Malverne, N.Y., is the leader of the Iona chapter of Midnight Run, an organization that coordinates over 30 student volunteers on a monthly basis to donate food, clothing and other essentials to the homeless population in New York. He’s also traveled internationally to help marginalized communities in Dublin, Ireland and Belfast, Northern Ireland. Matt currently serves as a campus minister and organizes a bi-weekly Bible Study that helps bring together people from different religious backgrounds to openly discuss their viewpoints.
 
Jeston Glish, University of Wisconsin-Stevens Point, from Fond du Lac, Wis., has spent the past three summers at the Wisconsin Lions Camp, working with people who are visually impaired, deaf, hard of hearing or intellectually disabled, as well as children with autism or Type 1 diabetes. He has also spent two years coaching Special Olympic athletes in track and field, basketball and bowling. Jeston currently works for the YMCA in both before- and after-school childcare and is participating in an internship through the Mayo Clinic.
 
Kraig Puccia, Fordham University, from Whitestone, N.Y., traveled to Bethel, Alaska as a member of Fordham’s GO! (Global Outreach) Program to learn about how drug and alcohol abuse impact the local community. While in Alaska, Kraig primarily assisted the Tundra Women’s Coalition, which works to protect women in the community from their partners during alcohol or drug-induced episodes that threaten their safety. Last year, Kraig volunteered at the Domestic Violence Bureau at the Queens District Attorney’s office. This summer he will volunteer at the Veterans Advocacy Project through the Urban Justice Center, doing pro-bono work for neglected veterans throughout New York City.
 
The winner of the 2019 Life of Significance Award will be announced at a private event on May 31. The winner will also be recognized during an on-field presentation at the Penn Mutual CRC on June 1 live on ESPN. Upon winning the award, the honoree will have a $5,000 contribution made to the charity of his choice. The winner’s rugby program will also receive $1,000 in Rhino Rugby gear for equipment needs.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at www.pennmutual.com.
 
 
 
Contact
 Darby Rowe              
 Gregory FCA
 (610) 228-2148
Darby@gregoryfca.com       
 
Lauren Kane
 Penn Mutual
 (215) 956-8760
 kane.lauren@pennmutual.com
 
 
 
2539135TM_May21


The Penn Mutual Life Insurance Company Announces Rugby Student-Athlete Finalists for its Fifth Annual Life of Significance Award

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Left to right: Lynn Yeakel, director of the Institute for Women’s Health and Leadership, and Eileen McDonnell, chairman and CEO of Penn Mutual.
 
HORSHAM, Pa. – May 6, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce that Eileen McDonnell, chairman and CEO, has been recognized with the 2019 Woman One Award, presented by the Institute for Women’s Health and Leadership at Drexel University College of Medicine, for her leadership in the local community.
 
Throughout her tenure as CEO at Penn Mutual, McDonnell has not only spurred innovative and transformative business objectives for the company, but has also created an inclusive work environment. Under her guidance, Penn Mutual now boasts a board and executive team that is 40 percent female, and is only one of seven Fortune 1000 companies with a female CEO/CFO team.
 
“In leading Penn Mutual, Eileen has created a culture of diversity and inclusion, demonstrating the ideals of shared leadership among women and men,” said Lynn Yeakel, director of the Institute for Women’s Health and Leadership. “She embodies the Institute’s commitment to the importance of women in leadership.”
 
This marks the 17th annual award presented by Drexel, which has honored past female leaders such as Molly Shepard, Lisa Thomas-Laury and Dawn Staley. The program also raises scholarship funds for underrepresented women studying medicine at Drexel. During the award ceremony held on April 29, the Drexel School of Medicine presented Dominique Jones, a Dean’s Woman One Scholar, with the Penn Mutual Woman One scholarship, which will fund Jones’ studies for the next two years.
 
During the ceremony, McDonnell expressed her gratitude for the recognition. “I am deeply honored to be recognized by the Woman One program and to join the other award recipients from years past,” she said. “But the true honor lies in helping the talented women students at Drexel University College of Medicine achieve their dreams. The responsibility lies within the business community to instill and inspire a sense of shared leadership among younger generations. I’m proud to be aligned with Drexel’s efforts, and stand by the current Woman One scholars who intend to serve underrepresented communities.”
 
For her leadership prowess and commitment to community, McDonnell will be awarded with the Women Corporate Directors 2019 “Visionary Award for Strategic Leadership” in May. She was also honored with the 2016 “Business Leader of the Year Award” from Drexel University LeBow College of Business and the United Way “Women’s Leadership Initiative Award” in 2017. On behalf of Penn Mutual, she also received the 2017 “EY Entrepreneur of the Year Award Greater Philadelphia” in the “Transformational” category.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
 


 
Contact
Karyn Piechule
Gregory FCA
610-228-2107
Karyn@gregoryfca.com
 
 
 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
 
 
 
2520361TM_May21


The Penn Mutual Life Insurance Company’s CEO Eileen McDonnell Honored with 2019 Woman One Award for Outstanding Leadership

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Top row (left to right): Financial Advisor Joanna Craney, Managing Partner Jim Meehan, Financial Advisor Ryan Shanley
Bottom row (left to right): 1847Financial team members Cindy Jennings and Kathleen McLaughlin
 
HORSHAM, Pa. – April 15, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce that its Conshohocken-based financial services firm, 1847Financial, has been honored with the 2019 Game Changer Award from the Believe and Achieve Foundation. The organization recognized the firm with this year’s award during its annual gala event held on April 13.
 
The Believe and Achieve Foundation is headquartered in Exton, PA. The non-profit provides educational programs to at-risk youth throughout the Greater Philadelphia region, which promotes positive development and empowerment in areas like academic success, lifestyle and physical activity, constructive self-esteem encouragement, and more.
 
1847Financial has worked closely with the organization since the start of 2018, and donated $5,000 toward the local cause at the start of the partnership. Most notable however, and spurring the non-profit to recognize 1847Financial, was the financial company’s firm-wide dedication and volunteer commitment over the last 15 months.
 
Last year, 1847Financial hosted 30 children — ranging from kindergarten to second grade — for a full day of “summer camp” at the office. The children spent the day with advisers learning beginner financial lessons and understanding basic concepts of currency. Advisers also worked closely with the children, many of whom are ESL students, to develop the business of their dreams, instilling that each child can achieve whatever they put their mind to. At the end of the day, the staff hosted an ice cream sundae bar, where the children used play money and their newfound monetary concepts to purchase a dessert of their choice. Given the success of the day, 1847Financial is planning two additional camps for summer 2019.
 
The majority of the staff has also been involved in events hosted by Believe and Achieve, including numerous school supply drives, and an ongoing after school tutoring program.
 
Thrilled to be recognized with the award, Jim Meehan, managing partner at 1847Financial, explained that giving back to the community is a foundational pillar at the core of the business. “For us, giving back means so much more than just writing a check; we really want to make a difference. We’re fortunate to be able to have a hand in empowering the youth in this area,” he says. “The Believe and Achieve Foundation does incredibly noble work for our community, and to be recognized by them is truly a testament to the philanthropy that runs deep here at 1847Finanical.”
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at www.pennmutual.com.
 


 
Contact
Karyn Piechule
Gregory FCA
610-228-2107
Karyn@gregoryfca.com

 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
 


 
2473669RM-Mar21


1847Financial Recognized with Game Changer Award for Commitment to Local Youth

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HORSHAM, Pa. – April 12, 2019 – AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa-” of The Penn Mutual Life Insurance Company (Penn Mutual Life) (Horsham, PA) and its wholly owned subsidiary, The Penn Insurance and Annuity Company (Wilmington, DE) The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has upgraded the FSR to A+ (Superior) from A (Excellent) and the Long-Term ICRs to “aa-” from “a” of Vantis Life Insurance Company (Vantis Life) (Windsor, CT) and Vantis Life Insurance Company of New York (Brewster, NY). The outlook of the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR is stable. AM Best also has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of “a” on the $200 million 6.65% surplus notes due 2034 and the $200 million 7.625% surplus notes due 2040, issued by Penn Mutual Life. The outlook of the Long-Term IRs is stable. These companies are collectively referred to as Penn Mutual.
 
The ratings of Penn Mutual reflect its balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM). The rating upgrades of the Vantis Life companies reflect their strategic importance and further integration into the Penn Mutual group. The affirmations of Penn Mutual reflect the organization’s favorable risk-adjusted capitalization, as well as favorable liquidity measures and overall financial flexibility. Additionally, Penn Mutual continues to manage its investment portfolio effectively, which has historically performed well and provided a steady stream of net investment income.
 
Penn Mutual continues to maintain a highly regarded position as a leading carrier within the ordinary life insurance market, while also continuing to build out complementary products and offer value-added options to its target markets. The Vantis companies offer further diversity in both distribution and target markets. Technological initiatives within the organization have demonstrated its ability to innovate an end-to-end experience for both advisors and clients, significantly ahead of many of its peer companies. Premium growth trends have been favorable over the past five-year period and operating metrics tied to its core operations have been strong. Statutory operating metrics have been impacted somewhat by strain related to sales of certain products. AM Best expects that Penn Mutual will continue to produce favorable top and bottom line trends that exceed industry peers. The company’s strong ERM practices reflect its formalized risk management framework including stated risk appetite and tolerances, extensive stress testing and overall strong risk culture across all levels of the organization.
 
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
 
About A.M. Best
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
 
These ratings do not imply approval of our products and do not reflect any indication of their performance. Past performance is no guarantee of future results. For more information, click here.
 
 
 
2500965TM_Apr21


A.M. Best Affirms Credit Ratings of The Penn Mutual Life Insurance Company and Its Subsidiaries

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Left to right: Mark Dash, VP of Solutions Delivery and Chief Technology Officer, and Greg Driscoll, SVP of Service Operations and Chief Information Officer.
 
HORSHAM, Pa. – April 12, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) announces their Accelerated Client Experience (ACE) technology is a winner of a Model Insurer Award given by Celent, a global financial services research and advisory firm. Penn Mutual is recognized in the “Digital and Omnichannel Technologies” category, specifically honoring ACE as an outstanding technology initiative.
 
Launched in 2017, ACE is a completely electronic, seamless end-to-end digital experience that streamlines the life insurance application processing and decision-making time from an industry average of 30 days or more to as little as 24 hours. It reduces the need for invasive medical testing and improves information gathering, thus reducing cost, minimizing overhead and accelerating the whole process of purchasing life insurance.
 
“ACE has completely modernized the purchasing process. We’ve changed the acquisition of life insurance,” says Greg Driscoll, senior vice president, service operations and chief information officer at Penn Mutual. “How we go to market has transformed, and to leave an imprint throughout the industry the way that we have is truly a game-changer. With that in mind, we’re already looking forward to the future of ACE. We are committed to continuously improving and enhancing the experience. We’re honored to receive this recognition from Celent, as it’s a nod to our innovative culture, and a testament to our dedication to create a difference for advisers and consumers.”
 
Driscoll credits the launch and rollout of ACE to the team of about 40 Penn Mutual associates and broad support across the organization. “Talent wins the day, and this undertaking succeeds due to our talented associates, and their mindset to break the mold. We challenge our associates to think differently, work differently and engage each other differently. The team understood we were taking risks, but now, the ACE metrics speak for themselves. We have an industry-leading 60 percent of our cases coming in electronically, and we are placing 93 percent of our submitted ACE cases, which is a full 20 points above non-ACE cases.”
 
As part of Celent’s judging methodology, the tool must demonstrate business benefits, a degree of innovation relative to the industry, and technology or implementation excellence.
 
According to Nicolas Michellod, senior analyst at Celent, “The Model Insurer Awards recognize how insurers are using technology to change the face of insurance. These insurance carriers should serve as an inspiration to others looking for strong examples of best practice implementation that will have a truly meaningful impact on business results and the industry overall. The entry from Penn Mutual clearly demonstrated this.”
 
Penn Mutual accepted its award at Celent’s annual Innovation and Insight Day in New York City on Friday, April 12, 2019.
 


 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at www.pennmutual.com.
 
About the Celent Model Insurer Awards
Celent’s annual Model Insurer Awards recognize the best practices of technology usage in different areas critical to success in insurance. Nominations are submitted by insurance carriers and undergo a rigorous evaluation process by Celent analysts. Celent judges submissions on three core criteria: demonstrable business benefits of live initiatives; the degree of innovation relative to the industry; and the technology or implementation excellence. More information at www.celent.com/awards.
 


 
Contact

 
Melanie Yuil
Gregory FCA
(215) 488-1239 
melanie@gregoryfca.com                                   
 
Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
 


 
2500227TM_Apr21


The Penn Mutual Life Insurance Company’s Accelerated Client Experience Honored with 2019 Celent Model Insurer Award

/site/press-releases/2019/04/visionary-award-strategic-leadership.xml


Left to right: Eileen McDonnell, chairman and CEO of Penn Mutual, and Joan Steel, WCD member and Co-chair of the Visionary Awards Selection Committee.
 
HORSHAM, Pa. – April  8, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce that Chairman and CEO Eileen McDonnell has been honored with the WomenCorporateDirectors (WCD) 2019 Visionary Award for Strategic Leadership. After a thorough evaluation of nominees, McDonnell was selected for leading Penn Mutual on its path of long-term strategic growth with a focus on industry and community partnerships.
 
Notable to WCD were Penn Mutual’s significant innovations, which are not only propelling the company forward, but setting the tone for the financial services industry. Additionally, McDonnell’s purpose-driven leadership has allowed the company to sustain success and financial strength during the recession and over the past decade. Under her leadership, Penn Mutual has remained committed to its long-term objectives, resulting in industry-leading growth and a rapid ascent on the prominent Fortune 1000 list. Reinforcing McDonnell’s resumé for this award is her commitment to shared leadership with a diverse team – supported by initiatives throughout the Penn Mutual organization.
 
“We operate on the basis of shared leadership. With over 40 percent female representation among our board members and executive leaders, we’re creating real change in the financial services industry,” McDonnell says. “It is that philosophy that runs deep in our culture, and in turn has fueled our corporate initiatives, industry success and overall long-term strategy. On behalf of our board, leadership team and associates, I’m honored to accept this award, which is truly a testament to our company strength and commitment to our strategic vision.”
 
Each year with its Visionary Award program, WCD recognizes companies and business leaders who demonstrate best practice around shared value and diversity while delivering strong financial performance. The award will be presented on May 20 at the Visionary Awards Dinner, which is part of the WCD Global Institute in Silicon Valley. McDonnell will be honored along with three other recipients in categories that include Leadership and Governance of a Public Company, Leadership and Governance of a Private Company, and Innovation in Shared Value. For more information on the awards, visit the WCD website.
 
About The Penn Mutual Life Insurance Company
Since 1847, Penn Mutual has been committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through Hornor, Townsend & Kent, LLC Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. We are proud to work together in a values-driven and relationship-based culture. Visit Penn Mutual at www.pennmutual.com.
 


 
Contact 
 
Haley Rosa       
 Gregory FCA
 (610) 228-2805 
 haley@gregoryfca.com
 
Lauren Kane
 Penn Mutual
 (215) 956-8760
 kane.lauren@pennmutual.com
 
2484889RM-Apr21


The Penn Mutual Life Insurance Company Chairman and CEO Eileen McDonnell Selected for 2019 Visionary Award for Strategic Leadership

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HORSHAM, Pa. – April 1, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 Company, introduces its latest term life insurance products, Guaranteed Convertible TermSM and Protection Non-Convertible TermSM, offering consumers two powerful term life insurance options.
 
Guaranteed Convertible Term offers guaranteed death benefit protection for 10-, 15-, 20- or 30-year terms, with conversion available during the term period (up to 20 years or age 70). This competitive term life product includes strong, contractual conversion guarantees that give policyholders a clear path to permanent life insurance, without proof of insurability. Protection Non-Convertible Term is designed to provide policyholders with affordable temporary death benefit protection. It offers a choice of 10-, 15-, 20- or 30-year terms.
 
Both products offer policyholders the opportunity to customize their coverage with optional riders that can extend coverage to children or provide added security in the event of disability or accidental death.
 
Andrew Martin, vice president of product management at Penn Mutual, said, “Adding Protection Non-Convertible Term to our life product portfolio allows us to better serve individuals seeking an affordable short-term protection solution. Our new convertible term life product, Guaranteed Convertible Term, continues Penn Mutual’s tradition of offering some of the industry’s strongest contractual conversion guarantees. For example, Guaranteed Convertible Term provides policyholders with a contractual guarantee that allows them to convert to any permanent product offered by Penn Mutual at the time of conversion.” Martin added, “That’s a powerful guarantee when you consider Penn Mutual’s permanent life product portfolio spans every major product category.”
 
For additional information about term life at Penn Mutual, please visit www.pennmutual.com.
 
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at www.pennmutual.com.
 


 
Contact
 

Karyn Piechule
Gregory FCA
610-228-2107
Karyn@gregoryfca.com

Lauren Kane
Penn Mutual
(215) 956-8760
kane.lauren@pennmutual.com
 


 
All guarantees are based on the claims paying ability of the issuing company. Guaranteed Convertible Term is a term life insurance policy offered by The Penn Mutual Life Insurance Company. (Policy form ICC18-LT) Protection Non-Convertible Term is a term life insurance policy offered by The Penn Mutual Life Insurance Company. (Policy form: ICC18-LT-N) Policy form numbers vary by state. Product and features may not be available in all states. Rider availability varies by product. Guaranteed Convertible Term and Protection Non-Convertible Term are not currently available in CA and NY. 
 
2457586PH_Mar21


The Penn Mutual Life Insurance Company adds Guaranteed Convertible Term and Protection Non-Convertible Term to its Extensive Life Portfolio

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March 26, 2019 – We are exercising leniency of any and all policy provisions or other requirements including the submission of a claim or proof of loss, reporting of information and submission of payments, to those impacted by the storms.  For information or other assistance, please call us at 1-800-523-0650, Monday through Friday, from 8:30 a.m. to 6:00 p.m. EDT.


Assistance to policy and contract holders affected by Missouri, Nebraska, and Ohio Storms

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HORSHAM, Pa. – March 20, 2019 – Amid bold objectives geared toward adviser retention and recruitment, The Penn Mutual Life Insurance Company (Penn Mutual) has promoted Sue Painter to vice president of field sales support. With a long-term plan that will roll out over the next six years under Painter’s guidance, the company will seek to bolster adviser retention through valuable initiatives and consistent, ongoing developmental programs. In her new role, Painter will be responsible for supervising the Life and Annuity Sales Desks and Product Concept Wholesalers for Life and Annuities, as well as leading Advanced Markets and Leap Systems. 
 
Going further than traditional training and education initiatives, Painter and her team will implement true end-to-end solutions for Penn Mutual’s career and independent advisers and field leaders. This focus will provide an innovative, customized and strategy-driven approach that elevates Penn Mutual’s advisers with personalized and ongoing support.
 
 
Painter and her team have already planned a number of programs for the coming months aimed at bolstering advisers and field leaders with long-term business building strategies, such as social media engagement sessions and new technology platform training to help them effectively reach clients and prospects. Other upcoming workshops will help leaders and advisers increase sales and gain a better understanding of life insurance sales concepts. Penn Mutual will also offer educational initiatives focusing on niche markets, such as families with special needs and business owners. These initiatives will offer advisers continuous training around these unique audiences and industry trends, so they may consistently offer superior service to their clients.
 
“We have robust business goals when it comes to assisting our field leaders and advisers. It’s no secret that retention and recruitment are hurdles everyone in this industry faces,” explains Dave O’Malley, president and COO at Penn Mutual. “We have made a deliberate change with these initiatives, and are on track to create a more strategy-driven approach that will ultimately enhance our ability to find and retain top-tier talent. It’s only through the support and dedication of professionals like Sue that we can continually improve and move this strategy forward.” 
 
Painter joined Penn Mutual in 2012 and most recently held the post of AVP, life new business, contract and licensing and adviser compensation. With over 25 years of industry experience, Painter will bring her impressive foundational skillset and experience within sales, business development, adviser and customer service, and project management to this new role.
 
“Helping advisers is my passion, and through this role and our new initiatives, we are enhancing the industry-leading support to our advisers. By facilitating and continually developing programs to fit adviser needs, we can ensure they have the vital support needed to best serve their clients,” says Painter.
 
 
About The Penn Mutual Life Insurance Company
Since 1847, Penn Mutual has been committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through Hornor, Townsend & Kent, LLC. Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. We are proud to work together in a values-driven and relationship-based culture. Visit Penn Mutual at www.pennmutual.com.
 


 
Contact
 
Karyn Piechule 
Gregory FCA   
(610) 228-2107

 
Lauren Kane
Penn Mutual
(215) 956-8760
 


 
2466745PH-Mar21


The Penn Mutual Life Insurance Company Promotes Sue Painter to VP of Field Sales Support

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HORSHAM, Pa. – March 15, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce Heather J. Scher has joined the organization as vice president of field development. Scher will lead strategic efforts to support the company’s aspirations of enhanced adviser productivity, increased retention, and field talent and management development. 
 
Scher brings 12 years of sales and industry experience to Penn Mutual, with an extensive history of success in distribution and firm-level leadership roles, including practice development, marketing, and recruiting, while impacting profitability by driving growth and retention. She most recently led the implementation of Advisor Teaming and Practice Transition Planning at the former MetLife Premier Client Group and MassMutual Financial Advisors.
 
This new leadership role strongly complements Penn Mutual’s commitment to innovation, in providing comprehensive adviser support, tools and resources to drive growth. Over the past year, with a focus on enhancing the client experience, Penn Mutual has implemented unparalleled technology—its Accelerated Client Experience (ACE)—which is a testament to the company’s investment in its field offices and adviser support. ACE provides a simplified and efficient life insurance process that is entirely digital, and has a 93 percent placement rate for new business when approved through automated underwriting, compared to 73 percent placement rate through the traditional underwriting process.
 
Scher’s addition supports the company’s values-driven and relationship-based approach to serving its advisers and policyholders. She will lead efforts to implement programs, align resources and develop the tools necessary to drive business development, while working with Penn Mutual distribution, field leaders, advisers and advisory teams to carve a strategic path with well-defined objectives and measures.
 
“We have bold objectives for adviser growth, retention and recruiting, and Heather’s experience and innate understandingof diverse aspects of our business aligns perfectly with the goals we are trying to achieve,” says Dave O’Malley, president and COO of Penn Mutual. “The foundational pillars of our business are built on personalized experience and offering flexibility so advisers can feel confident building their businesses with Penn Mutual.”
 
As a Fortune 1,000 company with $150 billion of life insurance in force and over 80 years of being rated A or better by A.M. Best, Penn Mutual strives to move not only the company, but the industry forward.
 
“I was attracted to Penn Mutual’s thought leadership, commitment to innovation and desire to make a difference in this industry,” explains Scher.“In partnership with distribution and field leadership, I look forward to helping our advisers provide solutions to client’s increasingly complex needs, achieve their growth goals, and secure the legacy and longevity of their practices.”
 
About The Penn Mutual Life Insurance Company
Since 1847, Penn Mutual has been committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through Hornor, Townsend & Kent, LLC. Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. We are proud to work together in a values-driven and relationship-based culture. Visit Penn Mutual at www.pennmutual.com.
 


 
Contact
 
Haley Rosa
Gregory FCA
(610) 228-2805  

 
Lauren Kane
Penn Mutual
(215) 956-8760
 


 
2456251RM-Mar21


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